Metropolitan Statistical Area (MSA):
Sherman-Denison, TX is a Metropolitan Statistical Area (MSA) comprising counties including .
There is no doubt that the Sherman-Denison, TX metropolitan statistical area (MSA) has been one of the hardest hit areas in terms of real estate trends over the past few years. The area has seen a dramatic decrease in home values, as well as an increase in foreclosures and short sales. However, there are signs that the market is beginning to rebound, albeit slowly.
Home prices in the Sherman-Denison MSA have fallen by nearly 30% since their peak in 2006. However, they have begun to stabilize over the past year or so, with median prices currently sitting at around $140,000. This is still well below the national average of just over $200,000, but it is a significant improvement from where prices were just a few years ago.
The number of foreclosures and short sales has also begun to decline in recent months. This is likely due to a combination of factors, including an improving economy and stricter lending standards making it more difficult for people to qualify for mortgages. As a result, more people are able to keep their homes and avoid foreclosure.
Overall, the real estate market in the Sherman-Denison MSA is slowly but surely beginning to rebound. Home prices are stabilizing and foreclosures are declining, which is good news for both buyers and sellers in the area.